Current segment
Segment 6.10 Evaluating and Advising on Risks in Strategic Procurement and Supply
Segment 6.10 Evaluating and Advising on Risks in Strategic Procurement and Supply
Knowledge: Will know and understand | Capabilities: Will be able to |
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The impacts of risks on the reputation of organisations |
Develop approaches to mitigate the impact of the supply chain that could adversely affect the reputation of the organisation and contribute to the use of risk pathways by the organisation |
The impact of supply chain disruptors and supply chain resilience |
Develop approaches to mitigate supply risks and create resilience in supply chains |
Sourcing decisions in supply chains and the sourcing of rare earth commodities and other bottleneck items |
Develop and implement appropriate sourcing strategies for rare earth commodities and other bottleneck items |
The use of risk assessments and approaches to manage risks in sourcing plans |
Take calculated risks in the development and implementation of sourcing plans to deliver innovative solutions for the organisation, and assign risks to the party best placed to manage them |
The main implications of globalisation on supply chain management and their bearing on risk, such as:
|
Monitor and evaluate aspects of globalisation that affect the organisation's supply chains and advise colleagues and strategic stakeholders about actions that can be taken to mitigate risks |
Emerging risks, such as cyber security, disruptive technologies, counterfeiting and fraud |
Develop and communicate an assessment of risks and use intelligence and alerts to manage emerging risks from external influences, such as cyber security, disruptive technologies, counterfeiting and fraud |
The impact of key legislation and regulations impacting on competition law, licensing, documentation, tariffs and duties on imports, and applicable law for international contracts |
Monitor and evaluate developments in legal requirements and regulations that affect sourcing decisions in supply chains, and advise colleagues and strategic stakeholders on actions that can be taken to mitigate risks |
The use of insurance for protection against risks in supply chains, including business interruption, credit protection, import and export, public and employers' liability, and professional indemnity |
Develop and implement approaches to mitigate financial risks that impact supply chains through the use of appropriate insurance arrangements |
The development of risk management frameworks such as Enterprise Risk Management (ERM) |
Support the adoption and use of frameworks such as ERM to mitigate risks in the supply chain |
The use of international standards for risk management |
Support the adoption and use of standards that mitigate risks in the supply chainĀ |
The risk appetite of the organisation |
Research market, and own organisations position on risk and quantify risks providing recommendations to internal stakeholders |
Mechanisms for recording, managing and allocating the ownership of risks |
Monitor risk management registers and other associated mechanisms and facilitate appropriate actions to minimise supply chain disruption and cost |
The impacts of risks on the reputation of organisations
Develop approaches to mitigate the impact of the supply chain that could adversely affect the reputation of the organisation and contribute to the use of risk pathways by the organisation
The impact of supply chain disruptors and supply chain resilience
Develop approaches to mitigate supply risks and create resilience in supply chains
Sourcing decisions in supply chains and the sourcing of rare earth commodities and other bottleneck items
Develop and implement appropriate sourcing strategies for rare earth commodities and other bottleneck items
The use of risk assessments and approaches to manage risks in sourcing plans
Take calculated risks in the development and implementation of sourcing plans to deliver innovative solutions for the organisation, and assign risks to the party best placed to manage them
The main implications of globalisation on supply chain management and their bearing on risk, such as:
- Global logistics
- Supply chain disruptors
- Ethical sourcing
- The local versus global dilemma
Monitor and evaluate aspects of globalisation that affect the organisation's supply chains and advise colleagues and strategic stakeholders about actions that can be taken to mitigate risks
Emerging risks, such as cyber security, disruptive technologies, counterfeiting and fraud
Develop and communicate an assessment of risks and use intelligence and alerts to manage emerging risks from external influences, such as cyber security, disruptive technologies, counterfeiting and fraud
The impact of key legislation and regulations impacting on competition law, licensing, documentation, tariffs and duties on imports, and applicable law for international contracts
Monitor and evaluate developments in legal requirements and regulations that affect sourcing decisions in supply chains, and advise colleagues and strategic stakeholders on actions that can be taken to mitigate risks
The use of insurance for protection against risks in supply chains, including business interruption, credit protection, import and export, public and employers' liability, and professional indemnity
Develop and implement approaches to mitigate financial risks that impact supply chains through the use of appropriate insurance arrangements
The development of risk management frameworks such as Enterprise Risk Management (ERM)
Support the adoption and use of frameworks such as ERM to mitigate risks in the supply chain
The use of international standards for risk management
Support the adoption and use of standards that mitigate risks in the supply chainĀ
The risk appetite of the organisation
Research market, and own organisations position on risk and quantify risks providing recommendations to internal stakeholders
Mechanisms for recording, managing and allocating the ownership of risks
Monitor risk management registers and other associated mechanisms and facilitate appropriate actions to minimise supply chain disruption and cost
This segment was last updated on: 21st May 2021